Uber Technologies (NYSE:UBER) Rating Increased to Buy at Arete

Uber Technologies (NYSE:UBER) was upgraded by equities research analysts at Arete from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $125.00 target price on the ride-sharing company’s stock. Arete’s price objective points to a potential upside of 42.62% from the stock’s previous close.

A number of other research firms have also issued reports on UBER. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 target price on shares of Uber Technologies in a research note on Tuesday, November 4th. DA Davidson upped their price target on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Piper Sandler set a $107.00 price objective on Uber Technologies in a report on Wednesday, November 5th. The Goldman Sachs Group restated a “buy” rating on shares of Uber Technologies in a report on Wednesday, November 5th. Finally, Arete Research set a $125.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.19.

Uber Technologies Price Performance

Uber Technologies stock opened at $87.64 on Wednesday. The company has a market cap of $182.11 billion, a P/E ratio of 11.27 and a beta of 1.19. Uber Technologies has a one year low of $59.33 and a one year high of $101.99. The business has a fifty day moving average of $93.22 and a two-hundred day moving average of $91.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 567,625 shares of company stock valued at $55,385,660. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Foster Group Inc. raised its position in shares of Uber Technologies by 3.3% during the 3rd quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock worth $330,000 after buying an additional 107 shares in the last quarter. Sage Rhino Capital LLC lifted its position in shares of Uber Technologies by 4.2% during the 3rd quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock valued at $268,000 after acquiring an additional 110 shares during the last quarter. Quent Capital LLC boosted its position in shares of Uber Technologies by 3.3% in the 3rd quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock valued at $343,000 after purchasing an additional 111 shares during the period. Advisors Capital Management LLC boosted its holdings in shares of Uber Technologies by 1.8% in the third quarter. Advisors Capital Management LLC now owns 6,398 shares of the ride-sharing company’s stock worth $627,000 after buying an additional 111 shares during the period. Finally, Emergent Wealth Advisors LLC grew its position in Uber Technologies by 0.7% during the 3rd quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock worth $1,701,000 after purchasing an additional 114 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.